NOW reduced priced from $619,000 with new compelling owner financing a major price reduction on the Fishes & Loaves Restaurant. The successful restaurant operates from a 2,924 SF renovated historic building on 1 acre just north of La Grange on TX HWY 159 (the "Round Top Highway"). The sale includes restaurant business, restaurant and 1,008 SF residence completed in 2002 priced at $619,000. Available 20% owner second financing could be combined with a traditional first loan to achieve 100% financing. FOR MORE DETAILED INFORMATION email : jverar@cbcworldwide.com

 HIGHLIGHTS

(1) Offered at $599,651 for 2,924 SF restaurant building , restaurant business PLUS owner residence of 1,080 SF built in 2002 all on one-acre on TX Highway 159, the “Round Top Highway”.

(2) $4,878.02 estimated P&I with 100% financing. This combines an 80% traditional first and available a 20% owner second!

(3) 6% buyer broker commission!

(4) May be eligible for SBA or direct bank loans depending on qualifications, terms, plan and other factors.

(5) At a 3-mile radius, many demographic and econometric key indicators demonstrate a stronger economic base and much faster population growth than Round Top!

(6) Increased consumer spending for eating out $9,000,000+ at a 5-mile radius and $2,000,000+ at a 3-mile radius for 2008 to 2013.

(7) Sample sight plan developed to demonstrate property expansion to accommodate an Austin-Hill Country style indoor/outdoor venue.

(8) The Progressive Famer ranked Fayette County as # 7 in its 2009 annual poll of the absolute best US rural counties to live in.

(9) High quality school system scored equal to or above 59 of the 85 school systems in the greater Houston-Austin-College Station area with a score of 7 of 10.

(10) Superior quality of life with low cost of living, low crime rate, low density and moderate weather.

(11) Outstanding Fayette County economy.

CONTACT INFORMATION

Call 979.421.9996 to contact any member of the listing team to set up an appointment, request additional information or answer any questions.

OWNER SUBORDINATED FINANCING

(1) Overview. Depending on qualifiers defined below and terms stated, the owner will provide a 20% second loan of $119,930.20.

(2) Qualifiers. Must be purchased at list price. Financing dependent upon buyer qualifications, business plan, organizational structure, tax and other factors.

(3) Terms. Estimated monthly payment is $969.30. 9.05% interest rate. 30 year amortization. 5 year balloon with estimated balance of $115,034.04 on the 61st month.
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100% FINANCING

By combining a traditional 80% first loan with the 20% owner second, you can acquire this property with 100% financing.

(1) 80% first loan assumptions.
$3,908.72 monthly P&I based on 80% of sale price is $479,720.80. 7.65% interest, 20-year amortization with a 5-year balloon based on rates published by the Iron Stone Bank on May 4, 2009. The rate for a 20-year amortization and 5-year lock is 5.10%. We increased this rate by 50% to support our assumption.

(2) Estimated balloon on 61st month. $532,829.85 ($417,795.80 1st mortgage and $115,034.05 2nd mortgage).

(3) Combined P&I. $4,878.02 ($3,908.72 1st mortgage and $969.30 2nd mortgage).

PROPERTY

This is a perfect opportunity for a high energy, well motivated individual or couple to own a restaurant and live out their dreams in the peaceful surroundings of a small town. The offering includes a gorgeous custom two-story, one bedroom one bath home built in 2002 with approximately 1,080 SF. It is currently occupied by the owners as a residence, but could be used as a rental if desired.

(1) Overview. Located on a rural Farm to Market road in Central Texas. It is a successful well established restaurant and catering service with a park like setting that is suitable for outdoor functions, weddings etc. This busy and very quaint restaurant features an absolutely amazing kitchen that is a chef’s dream come true. Seating capacity is 100, with three dining rooms. It serves lunch and dinner five days a week.

(2) Technology. The sound system has recently been updated with a 2GB MP3 Player, and new speakers.

(3) Land overview. Flat topography. The property is one acre with extensive parking canopied by 28 huge oak trees.

(4) Frontage. 200+’ frontage on Texas Highway 159, the “Round Top Highway”.

(5) Improvements. Two buildings total 4,004 SF: Main Building with 2,924 SF and Residence with 1,080 SF. The Main Building was renovated in 2002. It was originally a historic community store. Expansive windows replaced the store’s roll-up doors. The Garden Room was built over the original pumping area. The original walk-in cooler still cools.

(6) Current Main Building configuration.

Seven distinct settings:

(a) The West Wing can accommodate a private 20 guest party
(b) The Grille, a historic diner style format including counter and intimate booths
(c) The Garden Room with expansive windows and natural light seats 24
(d) The Galleria providing full-service dining and can accommodate about 100 guests
(e) Professional kitchen area with a preparation area, main kitchen and clean-up area
(f) Administrative area with office/conference room and private restrooms for staff
(g) Two spacious storage areas, a large room and a walk-in cooler

(7) Residence. Built in 2002, it is a chalet inspired two-story with 1,080 SF in a 1bedroom and 1 bath configuration. Very nice custom finishes.

(8) Minerals. None convey.

(9) Zoning. Fayette County does not have zoning ordinances.

LOCATION

(1) Antique Corridor proximity. It is located in the heart of the “Antique Corridor”. There are two major antique shows a year, each lasting 2 to 3 weeks. During the shows, business geometrically increases.

(2) Location. Directly on Texas Highway 159 ("Round Top Highway") 2.7 mi. north of La Grange and 12 mi. south of Round Top.

(3) Average daily traffic count. 7,140.

(4) Between two CBSAs. Fayette County is in the middle of the Austin CBSA on its western border and the Houston CBSA on its eastern border. Forbes magazine just ranked Houston #1 and Austin #6 as best places to live and work in 2008.

(5) Austin-San Antonio area access. 36 mi. to Bastrop; 64 mi. to downtown Austin and 123 mi. to San Antonio.

(6) Houston-College Station area access. 27 mi. to Brenham; 70 mi. to College Station; and 75 mi. to Katy.

(7) Airport access. 63 mi. to Austin Bergstrom; 65 mi. to Easterwood at College Station; 112 mi. to Houston Hobby; 117 mi. to Bush Intercontinental; and 126 mi. to San Antonio International.

(8) Low density. Fayette County's population density is about 2.5% of Travis County (Austin area) and only 1.1% of Harris County (Houston area).

(9) Local economy. Fayette 2008 County economy estimated at $435,000,000 and projected to grow 5.2% per year exceeding $575,000,000 in 2013.

(10) Adjacent County comparison. In comparison to all adjacent Counties, Fayette County has the highest annual % growth in average household income and in households with at least $150K annual income and highest 2008 average per capita consumer spending.

(11) Fayette County ranked #7 of all American rural counties. The Progressive Famer ranked Fayette County as # 7 in its 2009 annual poll of the absolute best US rural counties to live in.

TAXES

2008 reported taxes on the entire property are $4,170.56 ($2,814.87 on the business and $1,355.69 on the residence).

We increased 2008 by 5% to estimate 2009 at $4,379.09.

The residence currently maintains a homestead exemption. It is the owner’s residence. Consult your tax advisor regarding your expected taxes.

DISCLOSURES & COPYRIGHTS
Coldwell Banker Commercial Southwest Partners is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions-stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited.